Important Cryptocurrencies Other Than Bitcoin

You may have heard of Bitcoin in recent years, and for a good reason. It’s the top cryptocurrency on the crypto trading market. Still, there are other important cryptocurrencies other than Bitcoin to know. Read some other popular crypto options below for more information.

Polkadot

Polkadot (DOT) is a crypto project designed to use a multi-chain heterogeneous blockchain framework. Many investors, developers, and users consider it one of the most innovative crypto projects to date. Initiated in 2016, Polkadot didn’t take off until a few years later as an alternative to other cryptocurrencies by offering multiple blockchain properties—decentralization, speed, and security—all at once. It uses a core network, relay chains, and parallel blockchains in its infrastructure. The Polkadot market is always changing, so it may take some time before you can reap a high ROI.

Litecoin

Litecoin (LTC) is another one of the most important cryptocurrencies other than Bitcoin. It began as a way for developers to address flaws in what they perceived as Bitcoin’s centralization and to give a mining advantage. You shouldn’t overlook Litecoin as a viable alternative to Bitcoin and other cryptos. It has since become a reliable cryptocurrency through peer-to-peer payment. It’s great for ASIC miners in a centralized mining network or pool. While this means shared profitability, there’s a greater value share than independent mining.

Stellar

Lastly, Stellar (XLM) was developed by Stellar Development Foundation to create a blockchain-driven ledger network between banks, payment systems, and consumers via low-cost transfers of assets. It is one of the highest performing cryptocurrencies to date. It became popular back in 2018, when it became the first distributed technology ledger to partner with IBM and cross-border payments to more than 70 nations. Stellar stands out against other cryptos because it focuses on economic development in impoverished areas. Rather than being treated like another trading commodity, Stellar works through a distributed exchange. This allows users to send payments in specific currencies even if they hold credits in another currency, allowing for cross-border transactions.

By Dianne Pajo

Dianne Pajo is a writer based out of the Chicagoland area with a passion for music, combat sports, and animals. She enjoys competing in amateur boxing and kickboxing, but in her other leisure time, you can find her performing music around the city. She is also a dog mom of 2.